Top TEN Cities Lowering Housing Prices

We are proud to be based in Pendleton IN with real estate services to families all over Central Indiana! That being said, we enjoy keeping an eye on the real estate market as a whole and we know you do too. Below you’ll see a surprising list of the top 10 cities where home sellers are lowering the price of their homes. (Statistics from realtor.com) 

How does this information inform the buyers market in Pendleton IN? Well, we know home prices skyrocketed during the height of the COVID-19 pandemic. Buyers are now less likely to spend as much on homes. On top of the rising interest rates we’re seeing some of the most booming metropolitan areas have reduced housing costs. We see similar trends in our area! Home prices are lowering and this may be the sign that it’s the perfect time for you to buy! 

 

1. Austin, TX

Portion of listings with a price reduction in February: 25.4%

Median list price in February: $532,500

2. Phoenix, AZ

Portion of listings with a price reduction: 24.6%

Median list price: $487,000

3. Port St. Lucie, FL

Portion of listings with a price reduction: 23.0%

Median list price: $450,000

4. Huntsville, AL

Portion of listings with a price reduction: 22.0%

Median list price: $394,175

5. Las Vegas, NV

Portion of listings with a price reduction: 21.9%

Median list price: $445,500

6. Ogden, UT

Portion of listings with a price reduction: 21.5%

Median list price: $550,000

7. Columbia, SC

Portion of listings with a price reduction: 19.8%

Median list price: $301,696

8. Nashville, TN

Portion of listings with a price reduction: 19.0%

Median list price: $517,765

9. Flint, MI

Portion of listings with a price reduction: 18.8%

Median list price: $189,338

10. Colorado Springs, CO

Portion of listings with a price reduction: 18.7%

Median list price: $499,000

To learn what your home is worth in TODAY’S real estate market you can visit www.therealestatepros.com/homevalue